February 5, 2024 Market Update

[4:32 PM] Kourosh Jam

NYMEX Natural Gas Futures Contract  Winter 24, only the March contract now, settled at $2.080 USD/M which is an decrease of $0.034 USD/M.  Summer 24 settled at $2.377 USD/M which decreased by $0.082 USD/M (both from last Thursday).

[4:13 PM] Kourosh Jam

Market Fundamentals: NYMEX open interest COT report showed that Commercial Hedgers were long and got longer while Non Commercial Speculators were short and got shorter.  Domestic Canadian production remained stable over the weekend while the weather looks to be slightly cooler with the 11-15 forecast to have a cooler pattern. (WG).

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